Succession Planning -- Family Employee Agreements and Shareholder Agreements -- Governance Structures For Family Businesses -- Worst Practices: What We Can Learn From Family Disasters -- Compensating Family Members -- Creating Phantom Equity Incentives for Key Employees, Both Family And Non-Family -- Dealing with Inactive Minority Shareholders -- Eliminating Minority Shareholders -- Family Businesses In Financial Distress -- Selling a Family Owned Business -- Preserving And Transferring Family Wealth -- Family Businesses Going Public -- Appendix 1: Selected Portions Of Speech By Philip Clemens -- Appendix 2: Prenuptial Agreement -- Appendix 3 -- Irrevocable Spendthrift Trust
Summary
A practical guide to best and worst practices for family businesses - from drawing up incorporation documents to succession planning to selling the business. The book also includes examples from actual court cases and presents these lessons in an accessible manner. Sample legal agreements are included which help to avoid some of the major risks to the family business
